Jacobs & Co. CA Increases Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Jacobs & Co. CA raised its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 6.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,794 shares of the network technology company's stock after purchasing an additional 1,724 shares during the period. Jacobs & Co. CA's holdings in Palo Alto Networks were worth $5,084,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in PANW. Transce3nd LLC bought a new position in shares of Palo Alto Networks in the 4th quarter valued at about $25,000. Strategic Investment Solutions Inc. IL lifted its stake in Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after purchasing an additional 55 shares during the last quarter. Atlantic Edge Private Wealth Management LLC lifted its stake in Palo Alto Networks by 265.0% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock worth $27,000 after purchasing an additional 106 shares during the last quarter. Capital Advisors Ltd. LLC lifted its stake in Palo Alto Networks by 102.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock worth $28,000 after purchasing an additional 79 shares during the last quarter. Finally, Anchor Investment Management LLC lifted its stake in Palo Alto Networks by 100.0% in the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after purchasing an additional 78 shares during the last quarter. Institutional investors own 79.82% of the company's stock.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the transaction, the executive vice president now owns 3,543,516 shares in the company, valued at $586,132,981.56. This represents a 2.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the transaction, the executive vice president now owns 321,774 shares of the company's stock, valued at approximately $48,629,704.62. This trade represents a 27.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 568,962 shares of company stock valued at $96,933,690. Corporate insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

PANW has been the subject of several analyst reports. Guggenheim reissued a "sell" rating and issued a $130.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Cantor Fitzgerald reissued an "overweight" rating and issued a $223.00 price objective on shares of Palo Alto Networks in a research note on Monday, May 19th. Truist Financial decreased their price objective on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Wells Fargo & Company raised their price objective on shares of Palo Alto Networks from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Finally, Susquehanna raised their target price on shares of Palo Alto Networks from $217.50 to $230.00 and gave the stock a "positive" rating in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $208.00.

Palo Alto Networks Price Performance

PANW stock traded up $4.96 during trading on Friday, hitting $190.78. 11,416,203 shares of the company traded hands, compared to its average volume of 5,595,989. The stock's 50-day simple moving average is $178.31 and its 200 day simple moving average is $185.07. The company has a market cap of $127.21 billion, a PE ratio of 107.48, a P/E/G ratio of 5.64 and a beta of 1.02. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The company had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. During the same quarter in the previous year, the company earned $0.66 earnings per share. The firm's revenue for the quarter was up 15.3% on a year-over-year basis. Research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

About Palo Alto Networks

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.